Pakistan's Karot Dam reaches $1.7b financial close

Pakistan's Karot Dam reaches $1.7b financial close

A river in Pakistan.

China Three Gorges South Asia Investment Limited said Friday (March 31), that it has achieved a financial close on the $1.7 billion 720-megawatt Karot hydroelectric power project and the second phase of a 100MW wind power project, from a group of Chinese investors and the International Finance Corporation (IFC).

This is also marked as the first infrastructure deal under China’s One Belt One Road initiative. Other investors include Export-Import Bank of China, China Development Bank and Silk Road Fund.

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